Bowery Europe has expanded its German portfolio with the €40.0 million acquisition of a 25,700 sq m last mile logistics estate in Frechen, Greater Cologne, in partnership with Grosvenor.
The acquisition deepens Bowery's presence in Germany, which the firm identifies as Europe's most compelling logistics market for 2026, and builds on an established national portfolio spanning Bavaria, the Rhine-Ruhr and the Frankfurt region. It extends the firm's 'single entry point' model, connecting fragmented local markets with global institutional capital, and marks the Grosvenor venture's expansion into a second European market following its investment in Marseille. Bowery expects its German platform to benefit from the occupier recovery anticipated in the second half of the year.
The estate provides warehouse accommodation across a site of approximately 43,000 sq m and can be subdivided into multiple units combining grade A and last mile functionalities with clear heights of between 10 and 15 metres.
The site occupies a prime position in Frechen, one of Cologne's most established industrial and logistics locations, 3.7km from the A1 motorway and less than 10km from Cologne city centre. Occupiers in the immediate area include DHL, FedEx, Hermes, Kuehne+Nagel and Fiege.
One unit is currently vacant, providing immediate leasing upside, while the rest of the asset is leased to three tenants.
Jean-Marie Caillon, Founder of Bowery, said:
“Frechen is exactly the kind of location we target: a supply-constrained urban infill market with deep occupier demand and clear barriers to entry. This transaction demonstrates our ability to source high-quality assets off market and to identify opportunities where hands-on asset management can unlock substantial value. Germany is an undersupplied market for logistics, providing significant opportunities for expansion with the backing of institutional capital.”
Wei-Ting Leong, Investment Director at Grosvenor Diversified Property Investments, added:
“This acquisition marks our first investment in Germany with Bowery and reflects our strategy of partnering with specialist local operators who share our values, bring deep market expertise and create long-term value through active asset management.
“By combining Bowery’s on-the-ground sourcing capabilities and local market knowledge with our flexible capital, global real estate experience and disciplined investment approach, we are well positioned to capitalise on opportunities in high-conviction micro-locations supported by strong structural demand drivers such as these.”
About Bowery Europe
Founded in 2020 with offices in London, Paris and Dusseldorf, the firm is active across key European markets, with a particular focus on Germany, France and the Netherlands. Bowery provides institutional and first-time logistics investors with a single point of entry to diversified, cross-border logistics portfolios, combining deep local market expertise with a pan-European investment approach.
About Grosvenor Diversified Property Investments
We’re part of Grosvenor, an international organisation with a track record of over 340 years. Within our global remit, we back specialist local property investment teams, who share our values and have a demonstrable investment track record. By investing Grosvenor’s own capital alongside local partners who have a clear understanding of the changing demands of real estate in their markets, we aim to generate strong commercial results, while advancing our social and environmental ambitions.
Since our first partnership in 2012, we’ve successfully backed aligned, specialist, local management teams across six continents and in a broad range of sectors including industrial/ logistics, student accommodation, life sciences, healthcare, housing, and offices.
Learn more: Diversified Property Investments